Here's How Millennial Women Are Spending Their Money

Millennial women with money to spare aren't afraid of investing it, new research shows, outpacing previous generations by taking big risks, using hedge funds and venture capital, and more. But also they're making that major moolah by being more likely than any other generation to become entrepreneurs.

The U.S. Trust annual Insights on Wealth and Worth Survey revealed some pretty cool insights about wealthy millennial women. For one, millennial women are 3.4 times more likely to be entrepreneurs than women from other generations. They're also more likely to be the primary or an equal income earner in their relationships than previous generations—and one-third say they're the ones making the big money decisions in their households.

With the money they're making, millennial women aren't afraid to invest. Compared with older generations, millennial women are 2.8 times more likely to use hedge funds, 1.8 times more likely to try venture capital, and 3.1 times more likely to own impact investments. (If you're going cross-eyed reading these financial terms, check out Investopia's financial dictionary. It will define anything you might be financially curious about—and is a great tool if you, too, are ready to begin investing.)

And because they're investing—and investing well, it seems—millennial women are also making more in the market than previous generations, the research shows. They're 5.6 times more likely to have achieved significant gains by taking big risks, and three times more likely to have made significant gains thanks to market timing.

Other than the fact that these women are wealthy, you might be wondering where their money-confidence comes from. According to this survey, millennials are finding success from within. "Millennials are far more likely than older generations to believe that their success is attributed to their own innate talents," according to a survey statement, "yet they are relentless and hardworking, acknowledging that the harder they work the more success they will have."